Hi everyone,
I have from time to time visited this site- very informative, it seems things are changing rapidly! I am based in Australia so excuse any stupid questions!
Concerning "lets go trade"
As a Qcharts user I found them when Qcharts threw a "notification of new partner" up on the screen.
Their commission is
Commission Structure
Number of Shares Traded Per Share Commission*
(Cents per Share)
First 1,000 shares per trade 1
Each additional share above 1,000 1/2
*A minimum commission of $3.00 per trade applies.
How does this compare?This seems like a great deal- but they add the following fees-
Additional Fees
Software Licensing Fees
Premium Account $100 monthly fee
Basic Level II Account Available in the Near Future
The monthly service fee will be charged to your account during the last week of the preceding month.
Exchange, ECN and Other Fees
Archipelago $0.0075 Per Share
Island** $0.0025 Per Share
Listed Stocks - Limit Orders $0.0125 Per Share
Listed Stocks - Market Orders $0.0040 Per Share
SOES/SuperSOES** $0.1000 Per Order plus $0.002 Per Share
SOES Cancels $0.25 Per Cancelled Order
I asked about their insurance they replied-
Each account is covered by Securities Investor Protection Corporation
insurance upto $500,000, of which $100,000 is for cash. In addition,
Penson (our clearing firm) provides insurance through a private
insurance carrier. This coverage is an additional $24,500,000, of which
$900,000 is for cash. None of the above coverages protect against
market loss.
Does anyone know anything about Penson?
Thanks for any feedback
I have from time to time visited this site- very informative, it seems things are changing rapidly! I am based in Australia so excuse any stupid questions!
Concerning "lets go trade"
As a Qcharts user I found them when Qcharts threw a "notification of new partner" up on the screen.
Their commission is
Commission Structure
Number of Shares Traded Per Share Commission*
(Cents per Share)
First 1,000 shares per trade 1
Each additional share above 1,000 1/2
*A minimum commission of $3.00 per trade applies.
How does this compare?This seems like a great deal- but they add the following fees-
Additional Fees
Software Licensing Fees
Premium Account $100 monthly fee
Basic Level II Account Available in the Near Future
The monthly service fee will be charged to your account during the last week of the preceding month.
Exchange, ECN and Other Fees
Archipelago $0.0075 Per Share
Island** $0.0025 Per Share
Listed Stocks - Limit Orders $0.0125 Per Share
Listed Stocks - Market Orders $0.0040 Per Share
SOES/SuperSOES** $0.1000 Per Order plus $0.002 Per Share
SOES Cancels $0.25 Per Cancelled Order
I asked about their insurance they replied-
Each account is covered by Securities Investor Protection Corporation
insurance upto $500,000, of which $100,000 is for cash. In addition,
Penson (our clearing firm) provides insurance through a private
insurance carrier. This coverage is an additional $24,500,000, of which
$900,000 is for cash. None of the above coverages protect against
market loss.
Does anyone know anything about Penson?
Thanks for any feedback